January 20, 2021
As I reflect on the year we’ve just had and the work that is ahead, I am left with a sense of profound gratitude for the partnership of our Optigo® lenders, borrowers and investors.
We came together to be a stabilizing force for the multifamily industry in the most trying of circumstances. As a direct result of this hard work, I have some excellent news to share with you. We had another record year:
In total, 96% of the over 800,000 units we financed were affordable to families with moderate incomes or less. These results were powered by the depth and strength of our investor network and the overall performance of our portfolio.
Together, we provided essential liquidity to the multifamily market when it needed it most. Though last year was far from business as usual, we doubled down and played to our strengths. Our team and yours quickly adapted and worked relentlessly to meet demand amid the pandemic.
As you may have seen, last week the Treasury Department and FHFA amended the terms of the Preferred Stock Purchase Agreement and included a provision that creates a ceiling for multifamily volume caps. The volume cap for 2021 remains at $70 billion as announced by FHFA in November.
As we embrace a new year, our role in providing stability will continue to be a major focus. Affordability remains a top priority, both in funding and securitization, and we’ll continue to build on our impact loan and security offerings. We will expand our research to create insights that guide our industry in uncertain times. And we will go further with diversity, equity and inclusion, leading by example to alleviate inequities in rental housing finance.
The Optigo network is strong and built to deliver in all market conditions. Given what we accomplished together last year, we can be sure 2021 will be a year of new successes.
Thank you for your continued partnership in the year ahead.
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